WMT - Paymentus stock shoots up 45% intraday on fintech firm's first post-IPO session

Fintech firm Paymentus (PAY) popped as much as 45% intraday Wednesday, its first trading day after the instant-payments platform’s IPO priced at a top-of-range $21 a share.PAY opened at $28.76 shortly after noon ET on the Nasdaq and quickly rose to as high as $30.46, up 45% from the stock’s initial public offering price. Although shares later pulled back, they were still changing hands at $28.33 shortly before 1 p.m. ET, up 35% from the IPO price.Paymentus runs a Web-based platform that allows companies to electronically bill customers and accept instant payments. Amazon (AMZN), PayPal (PYPL), Walmart (WMT) and other major e-commerce and online-payment players use the service.This is a developing story. Check back for updates.

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Paymentus stock shoots up 45% intraday on fintech firm's first post-IPO session